South Asia: Imported scrap offers rise as demand improves
South Asia’s imported scrap offers have picked up after Turkiye’s prices rebounded and buyers started to restock the material. Buyers are booking smal...
South Asia's imported scrap offers have picked up after Turkiye's prices rebounded and buyers started to restock the material. Buyers are booking small parcels due to rains and production cuts while suppliers are offering high offers for September shipment amid vessel and material shortage as material for August shipment has almost sold out.
Recent deals
- Around 2,500 t of shredded scrap deal was concluded at $475-480/t, CFR Qasim levels. Buyers are returning to the market on appreciated PKR against dollar.
- A total of 18,000 t of bulk H2 and HS grade scrap of Japan-origin was traded at an average price of $425/t, CFR Chittagong.
SteelMint's assessment of UK/Europe-origin scrap-
- UK-origin shredded scrap price stands at $475-480/t CFR Qasim, up by $3/t d-o-d.
- Shredded scrap price is at $495/t CFR Chittagong, increasing by $5/t d-o-d.
- Europe-origin shredded price in India stands at $480/t CFR Nhava Sheva, up sharply by $12/t d-o-d.
